10Jul
These cars can bankrupt you with repairs and maintenance costs
If you’re a first-time car buyer, you should know the difference between upfront cost and what’s known in the industry as TCO (True Cost To Own). As the term implies, TCO is the ‘real’ cost of the car, determined by adding the initial purchase value (upfront cost) to the operating cost (fueling, maintenance, and repairs). In a nutshell, the TCO reveals the long-term value of your purchase.
Cars are a crucial part of our daily lives. They get us to work, transport us to important events, and give us the freedom to move around at our own pace. However, owning a car is not cheap, especially when it comes to repairs and maintenance costs.
Some cars are notoriously expensive to own or keep on the road, such that they can quickly bankrupt you if you aren’t careful. In this article, we'll explore 15 cars that seem to have come to this world with the single goal of emptying your wallet with their high repair and maintenance costs.
Related: Best Of The Best: The Top 10 Luxury Sedans of 2023 (Ranked By Category)
15. Chevrolet Volt
- Average Cost Of Repairs: Up To $4,495 (₦3.5 Million)
Apparently, having a name that sounds awfully similar to the the most affordable electric car in America (the Chevrolet Bolt) does not automatically make you one of the least expensive cars to own.
Furthermore, the electric Bolt currently has a starting price of around $24,000, while the plug-in hybrid Volt started at around $35,000 in 2019, its final year of production.
If we made a list of the cheapest cars to maintain, we'll probably be talking about the Prius, Camry, Corolla, Nissan Versa, Honda Accord, and Mitsubishi Mirage. In fact, we doubt Volt would make the list’s top ten.
In any case, RepairPal’s estimated cost of fixing and keeping a Chevrolet Volt on the road range from $95 to $4,495. While CarEdge does not have data for the average maintenance cost of a Chevy Volt, spending upward of $4,000 to fix a car is on the high side.
You still have to consider the availability of parts as the years wear on, considering the model is no more in production since 2019.
There are strong indications that the Bolt will return from the dead, by the way. Summarily, the Chevrolet Volt was popular with environmentally conscious individuals, but that didn’t stop it from making the list of the most expensive cars to repair and maintain.
14. Tesla Model S
- Average Maintenance Cost: $4,566 (₦3.515 Million)
The dependability and maintenance demands of Tesla models have warranted industry-wide scrutiny both by consumer-focused organizations like CarEdge and the automotive media.
Going by CarEdge’s estimation, the Model S will set you back an industry-leading $4,566 across the first ten years of the car being on the road, beating the industry average for luxury sedans by a massive $7,395.
In other words, if there were any cars on this list worth investing your money in, the Model S should top that list. Here’s where the story gets more interesting: the Model S may be the car on this list with the cheapest maintenance cost, but it isn’t exactly the cheapest car on the market.
Take the 2023 model, for example. The Long Range Model S starts at over $88,000, while the Plaid model starts at $108,490. When you spend that much on a car, you probably want to hear that the car has a zero percent likelihood of requiring a major repair.
In any case, the Model S has a comparatively manageable 8.64% probability of needing a major repair in its first ten years, also beating similar vehicles by 30.92 percent.
Regardless that the Tesla Model S is an electric car popular among environmentally conscious drivers, the fact remains that the cost of parts for electric cars is higher than average, and the Model S is no exception.
13. Volkswagen Touareg
- Average Maintenance Cost: $8,166 (₦6.3 Million)
Data analysis by Edmunds revealed that a Touareg has a maintenance cost estimate above $56,000 by year five of keeping the V6-powered Wolfsburg Edition of the Touareg on the road. Note that Edmunds bases its 5-year estimates on the approximation of 15,000 miles driven per year.
The data showed that it cost $3,275 on annual repairs, $7,223 on maintenance, and $15,357 lost to depreciation. While CarEdge does not have specific data about the Touareg’s average repairs and maintenance costs, the website maintained that Volkswagen models typically cost over $8,000 to keep moving during their first ten years of service.
That's $1,352 more than the industry average for similarly classed cars, and the SUV has a 19.16 percent chance of requiring major repairs in that time. To the SUV’s credit, the Volkswagen Touareg isn't just a luxury SUV.
It has been rightly described as the brand's "most intelligent and technologically advanced production car." You can set and activate its automatic progressively locking center differential (with manual override) and a "low range" using in-cabin controls.
The Touareg comes standard with a 4Motion 4WD system, by the way. Admittedly, none of that changes the fact that the cost of parts and labor for Volkswagens is higher than average, and the Touareg is no exception.
- 12. Infiniti Q50 – Average Maintenance Cost: $8,136 (₦6.3 Million)
With a RepairPal reliability score of 4.0 out of 5.0, it’s no wonder that the Q50 performed relatively better than other cars on this list when it comes to the cost of keeping the car on the road.
This reliability rating places the Q50 at the 10th spot of the most reliable luxury midsize sedans, making it an attractive option for shoppers in the market for a luxury car with the least likelihood of driving them to bankruptcy.
In any case, spending over $8,000 on repairs and maintenance alone isn't a walk in the park, not the least in Nigeria, where that money can buy you your next car.
Regardless, $8,000 is cheaper than the industry average for popular luxury sedans by an impressive $3,825, and the car also performs relatively better than similar cars by 15.78 percent, when it comes to the probability of it needing a major repair in ten years. The keyword here is "relatively." The Q50 is ultimately not a cheap car to own.
11. Dodge Challenger
- Average Maintenance Cost: $8,436 (₦6.5 Million)
The Challenger's reliability rating often hangs around 3.0 out of 5, which, though above-average reliability, is also not very reassuring. WithClutch estimates you can expect to spend at least $650 annually on the cost of repairs and maintaining the Challenger muscle car.
WithClutch’s estimates closely mirroring that of RepairPal that found you can expect to spend approximately $663 annually to keep your Challenger on the road.
According to CarEdge, the Challenger has a 24.22% likelihood of needing a major repair in its first ten years of service, and you can expect to spend around $8,000 in that time.
Notably, this American muscle car is comparatively less expensive to own, considering the maintenance requirements of most other regular and exotic vehicles on this list.
Be as it may, a 24.22 percent major repairs probability is 2.72% worse than the average for similar muscle cars. The Dodge Challenger is a classic muscle car much beloved by car enthusiasts. Nonetheless, the cost of parts and labor for muscle cars is notoriously high, and the Challenger is no exception.
10. Audi A8
- Average Maintenance Cost: $9,895 (₦7.7 Million)
The A8 is one of the most expensive cars in the market with a fairer ownership cost, compared to the 7 Series and S-Class discussed further down this article.
By CarEdge’s analysis, the A8’s ownership costs are better than the industry average for similar exotic automobiles by an impressive $2,066. Regardless, spending an estimated $10,000 on repairs and maintenance across ten years isn't something to look forward to.
There's also a 26.81 percent chance that this car will need major repairs in its first ten years of service, but we all know we'll feel much better if a car we bought brand-new has zero probability of requiring a major repair in the first ten years, at least.
According to CarEdge, this probability increases to a disheartening 51.66 percent by the tenth year. So, the Audi A8 is another luxury car that's expensive to maintain and repair.
The car is famous for its sleek design and advanced technology, but those features come with a high price tag. Apparently, routine maintenance on the A8 is expensive, unlike some popular cars on the market.
9. Ford F-150
- Average Maintenance Cost: $10,245 (₦7.9 Million)
By RepairPal’s data analysis, fixing a problem F-150 costs an average of $775, and CarEdge sees you spending over $10,000 fixing and maintaining the truck in its first ten years on the road.
It also has a 30.63% probability of requiring a major repair in that time, which is a 9.13% worse probability, compared to similar trucks in the segment. Be as it may, the F-Series makes Ford the best-selling pickup truck brand year after year.
It is currently leading the market in Q2 of 2023, with all indications pointing to the Series taking the crown of Truck of the Year one more time.
The Ford F-150 is a popular pickup truck known for its versatility and ruggedness. However, repairs on this car can quickly add up. The cost of parts and labor for pickup trucks is higher than average, and the F-150 is no exception.
8. Jeep Grand Cherokee
- Average Maintenance Cost: $10,484 (₦8.1 Million)
The Grand Cherokee costs an average of $10,484 to keep on the road for the first ten years, which is worse than the industry standard for popular SUVs by $1,351.
With a 31.13 percent probability of needing a major repair during the first ten years, the Grand Cherokee performs 9.63 percent worse than similarly classed SUVs.
CarEdge’s data shows that you can expect to spend around $366 keeping the Grand Cherokee on the road in its first year, but that figure spikes to $1,007 by year six, $1,954 by the tenth year, and $2,224 by the 12th year.
In other words, the Jeep Grand Cherokee is known for its ruggedness and off-road capabilities, but repairs on this SUV can quickly add up. The cost of parts and labor for Jeeps is typically higher than average, and the Grand Cherokee is no exception.
Related: 13 Reasons Why You Should Steer Clear Of The 2017 Mazda CX-3
7. Lexus LS
- Average Maintenace Cost: $12,000 (₦9.250 Million)
The latest LS proudly commands a seat at our table of the top-ten best luxury cars of 2023. It's a compelling brand worth considering by those in the market for a luxury car with advanced technology and high-end features.
However, those features come with a high price tag when it comes to maintenance and repairs.
RepairPal indicates that the annual cost estimate to care for the LS460 is approximately $928, with the cost of repairs ranging from $95 to $2,992. CarEdge does not have specific data about the cost of repairs and maintenance for the LS models but maintains that Lexus models cost approximately $7,786 to keep on the road in their first ten years.
However, Edmunds conducted a TCO analysis for the Lexus LS500 and determined that the car will set you back over $83,000 to keep on the road during a five-year period, although just $12,000 of that money is required to fix and maintain the car. The rest goes to ownership costs such as taxes, depreciation, insurance, financing, and fueling.
6. Mercedes-Benz S-Class
- Average Maintenance Cost: $12,306 (₦9.5 Million)
CarEdge’s analysis shows that the average the S-Class will set you back within the first ten years of owning the car is around $12,000, which, like the Bimmer included in this list, is also more than the industry average for similarly classed luxury sedans by $345.
While luxury vehicles are typically high-maintenance, not all seem so bent on milking your savings dry and sending you packing to your village atop a bicycle. Apparently, the Mercedes-Benz S-Class is another luxury car with an expensive upfront cost paired with alarmingly high maintenance costs.
The S-Class is famous for its advanced technology and high-end features, but those features come at a cost. Routine maintenance on the S-Class can be expensive, and repairs on this car can quickly drain your wallet.
By CarEdge’s estimates, the S-Class has a 31.57 percent chance of requiring a major repair in the first ten years, which is, on the flip side, actually 7.99 percent better than similar models in the luxury car market.
5. Cadillac Escalade
- Average Maintenance Cost: $12,933 (₦10 Million)
RepairPal estimates a massive $1,007 yearly maintenance cost for an Escalade, which translates to roughly 770,000 naira.
While the average Nigerian driver doesn’t see themselves spending close to a million naira on routine maintenance and repairs for a car, the fact remains that quality maintenance, such as is nearly inescapable in America, is the best way to support the vehicle’s ride quality and lifespan.
Take the 2019 model as an example. Edmunds estimates $85,943 as the true cost of owning the 2019 Escalade SUV in just five years. The SUV came equipped with a 6.2-liter 8-cylinder engine and AWD.
Note that this figure covers ownership costs, such as fueling, financing, taxes, insurance, repairs, maintenance, and depreciation, and does not include the initial purchase value.
By CarEdge’s analysis, you should plan a budget of around $13,000 (₦10 million) to keep your Escalade on the road during its first ten years of service.
The SUV also has a 36.55% chance of developing a serious issue requiring major repairs during that time. The Cadillac Escalade is a luxury SUV that's popular among wealthy individuals.
4. BMW 7 Series
- Average Maintenance Cost: $14,453 (₦11.2 Million)
According to CarEdge, you can expect to spend over $14,000 repairing and maintaining a BMW 7 Series during your first ten years of owning the car. Add that amount to the initial cost of purchase, and you have something closer to the true cost of owning a 7 Series Bimmer.
CarEdge is a Maryland, USA,-based consumer-focused website that acts as an “advocate for car shoppers’ by providing evidence-based analytical tools to help shoppers make informed decisions.
By CarEdge’s estimates, the average maintenance cost of a 7 Series is above the industry average for similarly classed luxury sedans. Ten years might feel like a long time, but so is $14,000, which is the naira equivalent of around 11 million.
The BMW 7 Series is popular among business executives and wealthy individuals. However, it's also one of the most expensive cars to maintain and repair. The cost of parts and labor for BMWs is notoriously high, and the 7 Series is no exception.
Repairs on this car can quickly add up, and routine maintenance can be quite costly. The CarEdge report also shows that the 7 Series has a worrying 40.39 percent chance of needing a major repair within its first ten years of service.
3. Porsche Panamera
- Average Maintenance Cost: $16,000 (₦12.4 Million)
So far on this list, the Panamera is the most expensive car to own, no thanks to a whopping $16,000 average repairs and maintenance costs during the vehicle's first ten years on the road.
Remember that the cost of repairs and maintenance typically increases as the years wear on, which means you can expect to spend slightly or considerably more on the same car than the original owner if you purchased a used model.
In any case, the Panamera costs a heart-sinking $4,570 more than the industry average for repairs and maintenance of similar luxury models. It also has a 45.03 percent chance of requiring a major repair in that time, which is reportedly 5.47 percent worse than its competitors in the segment.
Be as it may, the Panamera has never claimed to be a ride for the faint-hearted or penny pinchers. It's a luxury sports car loved and respected by enthusiasts across the globe. However, owning one of these cars comes with a hefty price tag when it comes to maintenance and repairs.
2. Acura NSX
- Average Maintenance Cost: $17,202.15 (₦13.3 Million)
The NSX is, sadly, one of the most expensive cars to own. For example, routine maintenance as simple as oil changes isn’t so simple with the NSX as there’s more work involved in changing the oil, which costs approximately $500.
One NSX owner noted the frustration of having to take the engine out of the chassis to adjust the valves, setting you back considerably more than you would if you were driving other legendary sports cars like the Miata.
Furthermore, the latest and final generation has seen multiple recalls, and some owners have reported having the dealership buy back their cars due to issues that were ultimately unable to get fixed.
Another owner wrote on the NSXPrime discussion board that he’d spent exactly $26,635.79 to keep his NSX on the road for two years and a half, although he admitted a good chunk of that money went to “items outside strict maintenance service.”
He found he’s spent a little over $17,000 (that’s roughly ₦13.3 million in less than three years) on strictly routine maintenance after deducting money spent on non-strict items such as “aftermarket bits and baubles, full-body PPF, and wheel refinishing.”
Needless to say, enthusiasts won’t stop fawning all over the Acura (Honda) NSX luxury high-performance sports car.
1. Land Rover Range Rover
- Average Maintenance Cost: $18,228 (₦14 Million)
We’ve no doubt you’ve been wondering when we’ll mention the notorious Range Rover. Be ready to pay the equivalent of 14 million naira across your first ten years of keeping a Range Rover on the road, and that’s a record $2,514 above the industry average to own a similarly classed luxury SUV.
This SUV often has a spot in any reputable list of the top ten most expensive cars to maintain, and you can expect its maintenance costs to go up significantly after about five to six years of leaving the dealership.
This is even more so with the Sport version. For example, CarEdge’s analysis found that the Range Rover has a 5.12% probability of requiring major repairs in its first year of service but that probability spikes to a massive 95.64 percent by the 12th year.
Similarly, the Portland, USA,-based luxury auto dealer Luxury Auto Plex’s analysis is even grimmer. It showed that the Range Rover is likely to set you back around $9,500 (₦7.3 million) a year in the guise of repairs and maintenance.
In any case, the Land Rover Range Rover SUV is renowned for its off-road capabilities and luxury features. Apparently, those features come at a cost when the time comes to maintain and repair.
Last Word On High-Maintenance Cars
Owning a car can be expensive, and some cars can quickly bankrupt you with high repair and maintenance costs. Luxury cars, high-performance cars, and electric cars tend to cost more to maintain and repair than other types of cars.
If you're considering buying one of these cars, it's important to factor in the cost of repairs and maintenance in your budget. Additionally, regular maintenance can help keep your car running smoothly and prevent costly repairs down the line.
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